SCHEDULE: HOOPP Discloses 2.6% Stake in Gores Holdings X

Healthcare of Ontario Pension Plan Trust Fund (HOOPP) has reported a 2.6% beneficial ownership in Gores Holdings X, Inc.'s Class A ordinary shares.

Summary

• Healthcare of Ontario Pension Plan Trust Fund (HOOPP) beneficially owns 950,443 Class A ordinary shares of Gores Holdings X, Inc.
• This ownership represents 2.6% of the 36,105,000 Class A shares issued and outstanding as of August 12, 2025.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• HOOPP is identified as a pension plan formed as a trust under the laws of Ontario, Canada, and is registered with the Financial Services Regulatory Authority of Ontario.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. A large institutional investor taking a stake is generally a positive signal, but the filing itself is purely factual and doesn't contain performance data or strategic updates from the issuer.

Positives

• A significant institutional investor, Healthcare of Ontario Pension Plan Trust Fund (HOOPP), holds a stake, which can be interpreted as a vote of confidence in the issuer.
• The acquisition of shares is explicitly stated to be in the ordinary course of business and not for the purpose of changing or influencing control, indicating a passive investment.

Future Outlook

This filing does not contain forward-looking statements or guidance from the issuer, as it is a disclosure of beneficial ownership by an institutional investor.

Management Comments

• Abas Kanu, VP, HOOPP Compliance Officer, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

Gores Holdings X, Inc. is a blank check company (SPAC). The disclosure of a significant institutional investor like HOOPP taking a stake is common for SPACs, as large funds often participate in their initial public offerings or subsequent market trading. This indicates continued institutional interest in the SPAC market, even as regulatory scrutiny and market conditions evolve.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, indicating a passive investment below the 5% threshold that would trigger a Schedule 13D filing.
• The beneficial ownership percentage of 2.6% is a typical institutional holding size for a SPAC, comparable to stakes taken by other pension funds or asset managers in similar blank check companies.
• For example, other large pension funds like CalPERS or CPPIB frequently disclose similar passive stakes in various public companies, including SPACs, as part of their diversified portfolio management.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional holder like HOOPP may provide some level of confidence or validation regarding the company's institutional interest.
• Management: Awareness of a large institutional investor's stake in the company.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of beneficial ownership by an institutional investor and does not contain information related to the operational performance, financial health, or strategic direction of Gores Holdings X, Inc. As such, it provides insufficient data to warrant a 'buy' or 'sell' recommendation. The presence of a reputable pension fund like HOOPP as a shareholder is a neutral to slightly positive indicator of institutional interest, but does not fundamentally alter the investment thesis for the SPAC at this stage. Therefore, a 'hold' recommendation is appropriate, pending further disclosures regarding the SPAC's merger target or other material events.

Keywords

Gores Holdings X, HOOPP, Schedule 13G, Beneficial Ownership, Class A Shares, Institutional Investor, Pension Plan, SPAC